Castrol India has informed that today it entered into Shareholders Agreement and Share Subscription Agreement with ki Mobility Solutions ('ki Mobility') and its shareholders, for acquisition of 7.09% stake (on a fully diluted basis post acquisition) in ki Mobility. ki Mobility is a part of TVS group, one of the large players in the India automotive industry and houses all the recent acquisitions of the TVS group in the India automotive aftermarket. ki Mobility is one of the leading players in the automotive service, maintenance and repair sector in India. The acquisition will be completed by January 2023, subject to the terms and certain conditions agreed between the parties. In this regard, it enclosed the following: Details required to be disclosed pursuant to Regulation 30 of the SEBI LODR, read with the SEBI Circular and Press Release on the said acquisition.
The above information is a part of company’s filings submitted to BSE.